Juggernaut JGN Rally is Superb! NFT Exchange Token is Up 70% in a Day

YEREVAN (CoinChapter.com) — Binance-funded NFT project Juggernaut (JGN) rally surpassed the high-market cap competitors’ advances, gaining 70% in the previous 24 hours. As of Nov. 27, it was changing hands for $0.025.

Juggernaut (JGN) Rally Did Not Flip Bearish Sentiment

Despite the rally, JGN traded 98% below its all-time high in late 2021. But the coin saw a substantial increase in trading volumes in the previous 48 hours without apparent reason.

Over three days, Juggernaut (JGN) experienced a sharp increase in trading volumes: $115,000 on Nov. 25, over $154,000 on Nov. 26, and $403,000 on Nov. 27, marking a 65% rise from the previous day. Market capitalization also grew from $2.7 million to $3.09 million.

Juggernaut is Part of Binance’s $100M Pet Pool

In March 2023, Juggernaut JGN secured an undisclosed amount of funding from a $100 million fund for projects building on top of Binance Smart Chain (BSC). This investment aimed to ” support the growth and development” of Juggernaut’s DeFi and NFT ecosystem on BSC​​.

Meanwhile, according to the project’s website, Juggernaut has plans to become the “leading NFT exchange” native to the Binance Smart Chain. The team also aims to reach the success level of Ethereum-native marketplaces like Rarible and OpenSea and fill the market gap for NFTs on the BSC network​​.

However, the project’s current financial situation does not support the high-achieving claims as of Nov. 27. As mentioned, the Juggernaut JGN rally stood at an impressive 70%. Still, the market cap has yet to exceed $5 million.

Additionally, the low-cap project’s on-chain metrics are not widely available on tracking platforms like DeFiLlama or Santiment, which makes predictions potentially unreliable.

In the latest development, Juggernaut partnered with trading platform Noahswap, per an X.com announcement on Nov. 23. According to the tweet, Noaswap users can mint JGN and “enjoy 3x returns,” with a minimal minting amount of 216 coins.

As of Nov. 27, no minting data is available on Noahswap. Thus, the Juggernaut JGN rally is still largely unexplained.